Linda Meinelt to Mike Nehf and STRS Board on PBIs: Terminate them!

From Linda Meinelt, September 15, 2009
Subject: PBI's

According to study commissioned by the ORSC, STRS ranks last or near last in performance for the last 3 years.

Should you raise the issue of PBI (affectionately known as "bonuses) at Thursday or Friday's meeting, and should the issue come to a vote, you must vote NO on the bonuses.

That is legally correct. To do otherwise does not fulfill your fiduciary responsibility to the STRS stakeholders since, according to Board Policy, the PBI may be interpreted, amended, rescinded or terminated at any time by the Board. The definitive word here is TERMINATED.

Do not delay these bonuses and do not reduce them- just TERMINATE them! Put the issue to rest once and for all.

Then, you will be able to begin to heal the divisions which now exist among the STRS stakeholders and the Board, administration and employees of STRS.

Linda Meinelt
Retiree